Wellington Management Group LLP Cuts Position in The Clorox Company $CLX

Wellington Management Group LLP lowered its holdings in The Clorox Company (NYSE:CLX) by 48.0% during the second quarter, HoldingsChannel reports. The fund owned 39,619 shares of the company’s stock after selling 36,588 shares during the period. Wellington Management Group LLP’s holdings in Clorox were worth $3,781,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CLX. BlackRock Inc. acquired a new position in Clorox in the second quarter valued at approximately $958,640,000. Bank of America Corp DE purchased a new stake in shares of Clorox during the 2nd quarter worth approximately $179,780,000. Norges Bank purchased a new position in shares of Clorox in the 4th quarter valued at $135,735,000. Bank of New York Mellon Corp acquired a new stake in Clorox during the 2nd quarter worth $123,154,000. Finally, Equity Investment Corp acquired a new position in Clorox in the second quarter valued at $111,800,000. Institutional investors and hedge funds own 78.53% of the company’s stock.

Wall Street Analysts Forecast Growth

CLX has been the subject of a number of research analyst reports. Wall Street Zen cut Clorox from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. UBS Group raised their target price on shares of Clorox from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. upped their price target on shares of Clorox from $92.00 to $95.00 and gave the company an “underweight” rating in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft set a $98.00 price objective on shares of Clorox in a research report on Tuesday, August 4th. Finally, Jefferies Financial Group downgraded shares of Clorox from a “buy” rating to a “hold” rating and decreased their target price for the stock from $125.00 to $98.00 in a research note on Tuesday, July 28th. Twelve equities research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Clorox presently has a consensus rating of “Reduce” and an average price target of $102.40.

Clorox Stock Down 2.2%

CLX stock opened at $89.61 on Thursday. The stock has a market capitalization of $10.84 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 2.87 and a beta of 0.56. The company has a fifty day moving average of $99.61 and a 200-day moving average of $100.89. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.38 and a current ratio of 0.66. The Clorox Company has a one year low of $84.70 and a one year high of $128.90.

Clorox (NYSE:CLX) last posted its quarterly earnings results on Monday, August 3rd. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.02. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the company posted $2.87 earnings per share. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. As a group, analysts expect that The Clorox Company will post 5.8 EPS for the current year.

Clorox Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Wednesday, August 12th were given a $1.25 dividend. The ex-dividend date was Wednesday, August 12th. This is a positive change from Clorox’s previous quarterly dividend of $1.24. This represents a $5.00 annualized dividend and a yield of 5.6%. Clorox’s dividend payout ratio (DPR) is currently 103.73%.

About Clorox

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company’s flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox’s diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.